UK Data by niusheng11

VIEWS: 7 PAGES: 35

									  Do not use for commercial purposes. Do not use for project d
  analysis. No guarantees or warrantees given or implied for us
                              spreadsheet
Please complete the cells indentified in yellow      Please email completed form back to: paul.gardiner@chpa

Member State                                         United Kingdom of Great Britain and Northern Ireland

Name of person completing sheet                      Paul Gardiner
Organisation of person completeing sheet             CHPA
Postal address of person completeing sheet           CHPA, Grosvenor Gardens House, London
email address of person completeing sheet            paul.gardiner@chpa.co.uk
Telephone number of person completeing sheet         00447850371894

            Input Data (for ref. year 2007)                       Package      Package
Notional Electrical Capacity                                     50kWe         1MWe
Primary Generator                                                 Recip        Recip
Heat Recovery method                                            Exchanger    Exchanger
Secondary Generator                                                Non          Non
Fuel Type                                                        Nat Gas      Nat Gas
Electrical Output                                    kWe            52         1,027
Heat Output                                          kW             80         1,414
Heat transport medium e.g. steam/hot water           note          HW           HW
Fuel Input (LHV)                                     kW            156         2,867
Fuel Input (HHV)                                     kW            173         3,171

Full Load Hours                                      hour         4,000         6,000

Thermal Efficiency (Avoided Boiler) NCV basis        %           90.00%        90.00%
Proportion of Electricity sold offsite               %            0.00%         0.00%
Proportion of Heat sold offsite                      %            0.00%         0.00%

EUA price                                            €/te CO2      N/A           N/A


Capital Subsidy Annual rate (CHP)                                  ECA          ECA
Capital Subsidy Annual total (CHP)                   €
Revenue Subsidy Annual rate (CHP)                    €/kWe
Revenue Subsidy Annual total (CHP)                   €

Installed Construction Cost rate (CHP)               €/kWe
Installed Construction Cost total (CHP)              €            42,000       630,000
Maintenance Cost Annual rate (CHP)                   €/MWe          15            9
Maintenance Cost Annual total (CHP)                  €            3,120         55,458
Operating Cost Annual rate (CHP)                     €/kWe
Operating Cost Annual total (CHP)                    €             630          9,450
Installed Construction Cost rate (Avoided Boiler)    €/kWth
Installed Construction Cost total (Avoided Boiler)   €
Maintenance Cost Annual rate (Avoided Boiler)        €/kWth
Maintenance Cost Annual total (Avoided Boiler)       €
Operating Cost Annual rate (Avoided Boiler)          €/kWth
Operating Cost Annual total (Avoided Boiler)         €

Fuel (Fossil) Price
Fuel Wholesale price                                 €/kWh        0.0125       0.0125
Fuel Transmission price                              €/kWh
Fuel Distribution price                                  €/kWh
Fuel Metering price                                      €/kWh
Fuel Supply (Other Administration) price                 €/kWh    0.0132      0.0054
Fuel Delivered Sub Total price                           €/kWh    0.0258      0.0180


Fuel Taxation 01 price                                   €/kWh    0.0018      0.0004
Fuel Taxation 02 price                                   €/kWh
Fuel Taxation 03 price                                   €/kWh
Fuel Benefit value 01                                    €/kWh
Fuel Benefit value 02                                    €/kWh

Fuel (Fossil) Grand Total price                          €/kWh    0.0258      0.0180

Heat Sales price                                         €/kWh    0.0276      0.0183

Electricity Wholesale price                              €/kWh    0.0350      0.0350
Electricity Supply Transmission price                    €/kWh
Electricity Supply Distribution price                    €/kWh
Electricity Supply Metering price                        €/kWh
Electricity Supply (Other Administration) price          €/kWh
Electricity Supply Total Delivered price                 €/kWh    0.0810      0.0671


Electricity Supply Taxation 01 price                     €/kWh    0.0052      0.0010
Electricity Supply Taxation 02 price                     €/kWh
Electricity Supply Taxation 03 price                     €/kWh
Electricity Supply Benefit value 01                      €/kWh
Electricity Supply Benefit value 01                      €/kWh

Electricity Supply Grand Total price                     €/kWh    0.0862      0.0681

Electricity Wholesale price                              €/kWh    0.0350      0.0350


Electricity Generation Transmission Benefit value 01     €/kWh
Electricity Generation Distribution Benefit value 01     €/kWh
Electricity CHP Benefit 01 price                         €/kWh
Electricity CHP Benefit 02 price                         €/kWh
Electricity CHP Generation Sub Total price               €/kWh    0.0350      0.0350
Electricity Generation Charges 01 price                  €/kWh
Electricity Generation Charges 02 price                  €/kWh
Electricity Generation Taxation 01 price                 €/kWh
Electricity Generation Taxation 02 price                 €/kWh
Electricity Generation Benefit value 01                  €/kWh
Electricity Generation Benefit value 01                  €/kWh
Electricity CHP Generation Charges/Tax Sub Total price   €/kWh

Electricity CHP Effective Total price                    €/kWh    0.0350      0.0350

                                                                  Package     Package
                                                                  50kWe       1MWe
                                                                   Recip       Recip
                                                                 Exchanger   Exchanger
                                                                    Non         Non
                                                                  Nat Gas     Nat Gas
Electricity Value from CHP with benefits   €17,919   €419,522
Heat Value from CHP with benefits           €9,807   €172,745
Electricity Value from CHP no benefits     €17,919   €419,522
Heat Value from CHP no benefits             €9,807   €172,745
Fuel Cost to CHP with benefits             €17,841   €341,804
Fuel Cost to CHP no benefits               €19,087   €348,653
Anual Running Costs (Non-Fuel)              €3,750    €64,908
Total Cost for CHP with benefits           €21,591   €406,712
Total Cost for CHP no benefits             €22,837   €413,561
Total Value from CHP with benefits         €27,726   €592,267
Total Value from CHP no benefits           €27,726   €592,267
Net Benefit of CHP with benefits            €6,135   €185,554
Net Benefit of CHP no benefits              €4,889   €178,705

Capital Costs                              €42,000   €630,000

Financials no benefits
Simple Payback                                 8.6        3.5
IRR                                        -4.34%     13.44%

Financials with benefits
Simple Payback with benefits                   6.8        3.4
IRR                                         1.24%     24.87%

Effect of benefits on Financials
Simple Payback with benefits                  -1.7       -0.1
IRR                                         5.58%     11.43%
Do not use for project design or
s given or implied for use of this
eet
mpleted form back to: paul.gardiner@chpa.co.uk

 f Great Britain and Northern Ireland



 Gardens House, London
pa.co.uk


                        Package         Simple cycle   Combined cycle
                        1MWe             12MWe           66MWe
                        Recip              ST              GT
                      Exchanger           Boiler          HRSG
                         Non               Non              ST
                       Gas Oil          Hard Coal        Nat Gas
                        1,027            11,696           66,000
                        1,414            80,878           85,000
                         HW              Steam            Steam
                        2,867            94,042          173,593
                        3,171            98,992          192,000

                         6,000             8400           8,400

                        90.00%           90.00%          90.00%
                         0.00%            0.00%          60.00%
                         0.00%            0.00%           0.00%

                          N/A            € 25.00         € 25.00


                         ECA               ECA             ECA




                                        30,000,000     60,000,000
                                            5              3
                                         491,232       1,663,200

                                         450,000         900,000




                                         0.0070           0.0125
 0.0031           0.0012
 0.0100           0.0137


 0.0004           0.0004




 0.0100          0.0137

 0.0104           0.0141

 0.0350           0.0350




 0.0671           0.0671


 0.0010           0.0010




 0.0681          0.0681

 0.0350           0.0350




                  0.0009        0.0009
                  0.0054        0.0054
 0.0350           0.0413




 0.0350          0.0413

Simple cycle   Combined cycle
 12MWe           66MWe
   ST              GT
  Boiler          HRSG
   Non             ST
Hard Coal        Nat Gas
 €6,688,821   €28,851,758
 €7,843,590   €11,193,406
 €6,688,821   €26,756,126
 €7,843,590   €11,193,406
 €8,340,914   €22,174,929
 €8,640,265   €22,755,537
  €941,232     €2,563,200
 €9,282,146   €24,738,129
 €9,581,497   €25,318,737
€14,532,411   €40,045,165
€14,532,411   €37,949,533
 €5,250,265   €15,307,036
 €4,950,913   €12,630,796

€30,000,000   €60,000,000


        6.1           4.8
     9.08%        11.99%


        5.7           3.9
    12.36%        16.21%


       -0.3          -0.8
     3.27%         4.22%
                                                                       Comments




nb: Fuel prices in UK based on HHV




nb: assume CHP is allocated according to needs in 2007 so no effect of EUETS
                    Reference Legislation/Regulation
                     Enhanced Capital Allowances



                    Reference source of information

             Manufacturers' estimate and consultants papers
                                Estimate


                     Based on 1.5% of Capital Cost




                   Reference source of information
             UK energy price model - 2007 wholesale prices
                    UK energy price model - 2007 prices


                      Reference Legislation/Regulation
         Climate Change Levy @ 100% for 50kWe & 20% for others




Used for CHP Fuel (no CCL)
                     Reference source of information
   Based on Boiler fuel price including CCL @ 20% except 5okWe plant
                     Reference source of information
              UK energy price model - 2007 wholesale prices




                    UK energy price model - 2007 prices
                      Reference Legislation/Regulation
         Climate Change Levy @ 100% for 50kWe & 20% for others




THis is the price paid for importing elec
                        Reference source of information


                      Reference Legislation/Regulation



                    Embedded Benefit @ £0.74/MWh
                  LECs at £4.51/MWh on Electricity SOLD




Note: applies to SALES of electricity only
                  Comments




7 so no effect of EUETS
                         Description of how
                                                     Other Comments
                    subsidy/benefit/tax is applied
                     First year(s) tax treatment



                          Other Comments             Other Comments




                          Other Comments             Other Comments
Description of how subsidy is
                                                 Other Comments
           applied
                                50kWe plant assumed "commercial" not manufacturing




     Other Comments                              Other Comments

     Other Comments                              Other Comments




Description of how subsidy is
                                                 Other Comments
           applied
                                50kWe plant assumed "commercial" not manufacturing




     Other Comments                              Other Comments

Description of how subsidy is
                                                 Other Comments
           applied


 SALES of electricity only
 SALES of electricity only
  Do not use for commercial purposes. Do not use for projec
   design or analysis. No guarantees or warrantees given or
              implied for use of this spreadsheet
                                                 CHP      CHP
ECA                                              No       Yes

Tax Treatment
Tax Rate                                         28.0%     28.0%
Writing Down Allowance (WDA)                     13.0%     N/A
ECA                                              N/A      100.0%
Applicable Tax Allowance                         13.0%    100.0%
Project Life (only to be changed in IRR sheet)       20        20
WACC                                             10.0%     10.0%
Capital Expenditure year "-1"                    40.0%     40.0%
Capital Expenditure year "0"                     60.0%     60.0%

Fixed Factors
CO2 Factor Nat Gas (Convert to LHV)              0.2100   0.2100
CO2 Factor Elec Grid (a) (check ref to LHV)      0.5370   0.5370
CO2 Factor Elec Grid (b) (check ref to LHV)      0.4300   0.4300
LHV to HHV gas conversion factor                  1.108    1.108
s. Do not use for project
 or warrantees given or
 preadsheet
   Do not use for commercial purposes. Do not use for proje
 design or analysis. No guarantees or warrantees given or im
                     for use of this spreadsheet
This part to calculate benefits with policy support mechanisims in place
[Project Name] 50kWe            Recip           Nat Gas         No ECA
IRR & NPV Calculator            [Date]

Operational Costs   Value
Cost of equipment    € 42,000
Depreciation          € 2,100
Non Fuel costs        € 3,750

Tax Rate                -28%
WACC                     10%

                                                            Revenue
                                Net Benefit of CHP   Maintenance
Term in years
          -1
           0         € 42,000                  €0                €0
           1               €0             € 4,889          -€ 3,750
           2               €0             € 4,889          -€ 3,750
           3               €0             € 4,889          -€ 3,750
           4               €0             € 4,889          -€ 3,750
           5               €0             € 4,889          -€ 3,750
           6               €0             € 4,889          -€ 3,750
           7               €0             € 4,889          -€ 3,750
           8               €0             € 4,889          -€ 3,750
           9               €0             € 4,889          -€ 3,750
         10                €0             € 4,889          -€ 3,750
         11                €0             € 4,889          -€ 3,750
         12                €0             € 4,889          -€ 3,750
         13                €0             € 4,889          -€ 3,750
         14                €0             € 4,889          -€ 3,750
         15                €0             € 4,889          -€ 3,750
         16                €0             € 4,889          -€ 3,750
         17                €0             € 4,889          -€ 3,750
         18                €0             € 4,889          -€ 3,750
         19                €0             € 4,889          -€ 3,750
         20                €0             € 4,889          -€ 3,750




This part to calculate benefits with policy support mechanisims in place
[Project Name] 50kWe            Recip           Nat Gas         With ECA
IRR & NPV Calculator            [Date]

Operational Costs   Value
Cost of equipment    € 42,000
Depreciation             € 2,100
Non Fuel costs           € 3,750

Tax Rate                   -28%
WACC                        10%

                                                               Revenue
                                   Net Benefit of CHP   Maintenance
Term in years
          -1
           0            € 42,000                  €0                €0
           1                  €0             € 6,135          -€ 3,750
           2                  €0             € 6,135          -€ 3,750
           3                  €0             € 6,135          -€ 3,750
           4                  €0             € 6,135          -€ 3,750
           5                  €0             € 6,135          -€ 3,750
           6                  €0             € 6,135          -€ 3,750
           7                  €0             € 6,135          -€ 3,750
           8                  €0             € 6,135          -€ 3,750
           9                  €0             € 6,135          -€ 3,750
         10                   €0             € 6,135          -€ 3,750
         11                   €0             € 6,135          -€ 3,750
         12                   €0             € 6,135          -€ 3,750
         13                   €0             € 6,135          -€ 3,750
         14                   €0             € 6,135          -€ 3,750
         15                   €0             € 6,135          -€ 3,750
         16                   €0             € 6,135          -€ 3,750
         17                   €0             € 6,135          -€ 3,750
         18                   €0             € 6,135          -€ 3,750
         19                   €0             € 6,135          -€ 3,750
         20                   €0             € 6,135          -€ 3,750




This part to calculate benefits with policy support mechanisims in place
[Project Name] 66MWe            GT              Nat Gas         No ECA
IRR & NPV Calculator            [Date]

Operational Costs     Value
Cost of equipment   € 60,000,000
Depreciation         € 3,000,000
Non Fuel costs       € 2,563,200

Tax Rate                   -28%
WACC                        10%

                                                               Revenue
                                   Net Benefit of CHP   Maintenance
Term in years
          -1        € 24,000,000
           0        € 36,000,000                  €0                €0
           1                  €0        € 12,630,796      -€ 2,563,200
           2                  €0        € 12,630,796      -€ 2,563,200
            3                 €0    € 12,630,796     -€ 2,563,200
            4                 €0    € 12,630,796     -€ 2,563,200
            5                 €0    € 12,630,796     -€ 2,563,200
            6                 €0    € 12,630,796     -€ 2,563,200
            7                 €0    € 12,630,796     -€ 2,563,200
            8                 €0    € 12,630,796     -€ 2,563,200
            9                 €0    € 12,630,796     -€ 2,563,200
           10                 €0    € 12,630,796     -€ 2,563,200
           11                 €0    € 12,630,796     -€ 2,563,200
           12                 €0    € 12,630,796     -€ 2,563,200
           13                 €0    € 12,630,796     -€ 2,563,200
           14                 €0    € 12,630,796     -€ 2,563,200
           15                 €0    € 12,630,796     -€ 2,563,200
           16                 €0    € 12,630,796     -€ 2,563,200
           17                 €0    € 12,630,796     -€ 2,563,200
           18                 €0    € 12,630,796     -€ 2,563,200
           19                 €0    € 12,630,796     -€ 2,563,200
           20                 €0    € 12,630,796     -€ 2,563,200




This part to calculate benefits with policy support mechanisims in place
[Project Name] 66MWe            GT              Nat Gas         With ECA
IRR & NPV Calculator            [Date]

Operational Costs     Value
Cost of equipment   € 60,000,000
Depreciation         € 3,000,000
Non Fuel costs       € 2,563,200

Tax Rate                   -28%
WACC                        10%

                                                          Revenue
                                   Sales less
                                                   Maintenance
Term in years           CHP        Purchases
          -1        € 24,000,000
           0        € 36,000,000              €0               €0
           1                  €0    € 15,307,036     -€ 2,563,200          €0
           2                  €0    € 15,307,036     -€ 2,563,200          €0
           3                  €0    € 15,307,036     -€ 2,563,200          €0
           4                  €0    € 15,307,036     -€ 2,563,200          €0
           5                  €0    € 15,307,036     -€ 2,563,200          €0
           6                  €0    € 15,307,036     -€ 2,563,200          €0
           7                  €0    € 15,307,036     -€ 2,563,200          €0
           8                  €0    € 15,307,036     -€ 2,563,200          €0
           9                  €0    € 15,307,036     -€ 2,563,200          €0
         10                   €0    € 15,307,036     -€ 2,563,200          €0
         11                   €0    € 15,307,036     -€ 2,563,200          €0
         12                   €0    € 15,307,036     -€ 2,563,200          €0
         13                   €0    € 15,307,036     -€ 2,563,200          €0
         14                   €0    € 15,307,036     -€ 2,563,200          €0
         15                   €0    € 15,307,036     -€ 2,563,200          €0
           16               €0        € 15,307,036      -€ 2,563,200       €0
           17               €0        € 15,307,036      -€ 2,563,200       €0
           18               €0        € 15,307,036      -€ 2,563,200       €0
           19               €0        € 15,307,036      -€ 2,563,200       €0
           20               €0        € 15,307,036      -€ 2,563,200       €0




This part to calculate benefits with policy support mechanisims in place
[Project Name] 1MWe             Recip           Nat Gas         No ECA
IRR & NPV Calculator            [Date]

Operational Costs   Value
Cost of equipment    € 630,000
Depreciation          € 31,500
Non Fuel costs        € 64,908

Tax Rate                 -28%
WACC                      10%

                                                             Revenue
                                 Net Benefit of CHP   Maintenance
Term in years
          -1         € 126,000
           0         € 504,000                 €0                 €0
           1                €0          € 178,705          -€ 64,908
           2                €0          € 178,705          -€ 64,908
           3                €0          € 178,705          -€ 64,908
           4                €0          € 178,705          -€ 64,908
           5                €0          € 178,705          -€ 64,908
           6                €0          € 178,705          -€ 64,908
           7                €0          € 178,705          -€ 64,908
           8                €0          € 178,705          -€ 64,908
           9                €0          € 178,705          -€ 64,908
         10                 €0          € 178,705          -€ 64,908
         11                 €0          € 178,705          -€ 64,908
         12                 €0          € 178,705          -€ 64,908
         13                 €0          € 178,705          -€ 64,908
         14                 €0          € 178,705          -€ 64,908
         15                 €0          € 178,705          -€ 64,908
         16                 €0          € 178,705          -€ 64,908
         17                 €0          € 178,705          -€ 64,908
         18                 €0          € 178,705          -€ 64,908
         19                 €0          € 178,705          -€ 64,908
         20                 €0          € 178,705          -€ 64,908




This part to calculate benefits with policy support mechanisims in place
[Project Name] 1MWe             Recip           Nat Gas         With ECA
IRR & NPV Calculator            [Date]
Operational Costs     Value
Cost of equipment     € 630,000
Depreciation           € 31,500
Non Fuel costs         € 64,908

Tax Rate                   -28%
WACC                        10%

                                                               Revenue
                                   Net Benefit of CHP   Maintenance
Term in years
          -1          € 126,000
           0          € 504,000                  €0                 €0
           1                 €0           € 185,554           -€ 3,750
           2                 €0           € 185,554           -€ 3,750
           3                 €0           € 185,554           -€ 3,750
           4                 €0           € 185,554           -€ 3,750
           5                 €0           € 185,554           -€ 3,750
           6                 €0           € 185,554           -€ 3,750
           7                 €0           € 185,554           -€ 3,750
           8                 €0           € 185,554           -€ 3,750
           9                 €0           € 185,554           -€ 3,750
         10                  €0           € 185,554           -€ 3,750
         11                  €0           € 185,554           -€ 3,750
         12                  €0           € 185,554           -€ 3,750
         13                  €0           € 185,554           -€ 3,750
         14                  €0           € 185,554           -€ 3,750
         15                  €0           € 185,554           -€ 3,750
         16                  €0           € 185,554           -€ 3,750
         17                  €0           € 185,554           -€ 3,750
         18                  €0           € 185,554           -€ 3,750
         19                  €0           € 185,554           -€ 3,750
         20                  €0           € 185,554           -€ 3,750




This part to calculate benefits with policy support mechanisims in place
[Project Name] 12MWe            ST              Hard Coal       No ECA
IRR & NPV Calculator            [Date]

Operational Costs     Value
Cost of equipment   € 30,000,000
Depreciation         € 1,500,000
Non Fuel costs         € 941,232

Tax Rate                   -28%
WACC                        10%

                                                               Revenue
                                   Net Benefit of CHP   Maintenance
Term in years
          -1        € 12,000,000
            0       € 18,000,000              €0               €0
            1                 €0     € 4,950,913       -€ 941,232
            2                 €0     € 4,950,913       -€ 941,232
            3                 €0     € 4,950,913       -€ 941,232
            4                 €0     € 4,950,913       -€ 941,232
            5                 €0     € 4,950,913       -€ 941,232
            6                 €0     € 4,950,913       -€ 941,232
            7                 €0     € 4,950,913       -€ 941,232
            8                 €0     € 4,950,913       -€ 941,232
            9                 €0     € 4,950,913       -€ 941,232
           10                 €0     € 4,950,913       -€ 941,232
           11                 €0     € 4,950,913       -€ 941,232
           12                 €0     € 4,950,913       -€ 941,232
           13                 €0     € 4,950,913       -€ 941,232
           14                 €0     € 4,950,913       -€ 941,232
           15                 €0     € 4,950,913       -€ 941,232
           16                 €0     € 4,950,913       -€ 941,232
           17                 €0     € 4,950,913       -€ 941,232
           18                 €0     € 4,950,913       -€ 941,232
           19                 €0     € 4,950,913       -€ 941,232
           20                 €0     € 4,950,913       -€ 941,232




This part to calculate benefits with policy support mechanisims in place
[Project Name] 12MWe            ST              Hard Coal       With ECA
IRR & NPV Calculator            [Date]

Operational Costs     Value
Cost of equipment   € 30,000,000
Depreciation         € 1,500,000
Non Fuel costs         € 941,232

Tax Rate                   -28%
WACC                        10%

                                                          Revenue
                                   Sales less
                                                   Maintenance
Term in years           CHP        Purchases
          -1        € 12,000,000
           0        € 18,000,000              €0               €0
           1                  €0     € 5,250,265       -€ 941,232          €0
           2                  €0     € 5,250,265       -€ 941,232          €0
           3                  €0     € 5,250,265       -€ 941,232          €0
           4                  €0     € 5,250,265       -€ 941,232          €0
           5                  €0     € 5,250,265       -€ 941,232          €0
           6                  €0     € 5,250,265       -€ 941,232          €0
           7                  €0     € 5,250,265       -€ 941,232          €0
           8                  €0     € 5,250,265       -€ 941,232          €0
           9                  €0     € 5,250,265       -€ 941,232          €0
         10                   €0     € 5,250,265       -€ 941,232          €0
         11                   €0     € 5,250,265       -€ 941,232          €0
         12                   €0     € 5,250,265       -€ 941,232          €0
13   €0   € 5,250,265   -€ 941,232   €0
14   €0   € 5,250,265   -€ 941,232   €0
15   €0   € 5,250,265   -€ 941,232   €0
16   €0   € 5,250,265   -€ 941,232   €0
17   €0   € 5,250,265   -€ 941,232   €0
18   €0   € 5,250,265   -€ 941,232   €0
19   €0   € 5,250,265   -€ 941,232   €0
20   €0   € 5,250,265   -€ 941,232   €0
s. Do not use for project
warrantees given or implied
adsheet
           No Benefits




enue
                                               Net Taxable
                Total      Capital Allowance                      Tax
                                                 Income

                      €0                                 €0              €0
                 € 1,139           € 5,460         -€ 4,321         € 1,210
                 € 1,139           € 4,750         -€ 3,611         € 1,011
                 € 1,139           € 4,133         -€ 2,993           € 838
                 € 1,139           € 3,595         -€ 2,456           € 688
                 € 1,139           € 3,128         -€ 1,989           € 557
                 € 1,139           € 2,721         -€ 1,582           € 443
                 € 1,139           € 2,368         -€ 1,228           € 344
                 € 1,139           € 2,060           -€ 920           € 258
                 € 1,139           € 1,792           -€ 653           € 183
                 € 1,139           € 1,559           -€ 420           € 117
                 € 1,139           € 1,356           -€ 217            € 61
                 € 1,139           € 1,180            -€ 41            € 11
                 € 1,139           € 1,027            € 113           -€ 32
                 € 1,139             € 893            € 246           -€ 69
                 € 1,139             € 777            € 362          -€ 101
                 € 1,139             € 676            € 463          -€ 130
                 € 1,139             € 588            € 551          -€ 154
                 € 1,139             € 512            € 628          -€ 176
                 € 1,139             € 445            € 694          -€ 194
                 € 1,139             € 387            € 752          -€ 211
                                     £39,408                  Net Cash Flow =
                                                                       NPV =
                                                                       IRR =



           With Benefits
                                                     0.5
enue
                         CHP Capital       Net Taxable     Allowance Carry
           Total                                                                 Tax
                          Allowance          Income            Forward
                                    €0                                                  €0
                  €0          € 42,000        -€ 42,000                           € 11,760
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
             € 2,385                €0          € 2,385                             -€ 668
                                                                             Net Cash Flow =
                                                                                      NPV =
                                                                                      IRR =




       No Benefits




enue
                                           Net Taxable
           Total       Capital Allowance                                         Tax
                                             Income

                  €0                                 €0                                 €0
        € 10,067,596       € 7,800,000      € 2,267,596                         -€ 634,927
        € 10,067,596       € 6,786,000      € 3,281,596                         -€ 918,847
        € 10,067,596    € 5,903,820      € 4,163,776      -€ 1,165,857
        € 10,067,596    € 5,136,323      € 4,931,272      -€ 1,380,756
        € 10,067,596    € 4,468,601      € 5,598,994      -€ 1,567,718
        € 10,067,596    € 3,887,683      € 6,179,912      -€ 1,730,375
        € 10,067,596    € 3,382,284      € 6,685,311      -€ 1,871,887
        € 10,067,596    € 2,942,587      € 7,125,008      -€ 1,995,002
        € 10,067,596    € 2,560,051      € 7,507,545      -€ 2,102,112
        € 10,067,596    € 2,227,244      € 7,840,351      -€ 2,195,298
        € 10,067,596    € 1,937,703      € 8,129,893      -€ 2,276,370
        € 10,067,596    € 1,685,801      € 8,381,794      -€ 2,346,902
        € 10,067,596    € 1,466,647      € 8,600,949      -€ 2,408,266
        € 10,067,596    € 1,275,983      € 8,791,613      -€ 2,461,652
        € 10,067,596    € 1,110,105      € 8,957,490      -€ 2,508,097
        € 10,067,596      € 965,792      € 9,101,804      -€ 2,548,505
        € 10,067,596      € 840,239      € 9,227,357      -€ 2,583,660
        € 10,067,596      € 731,008      € 9,336,588      -€ 2,614,245
        € 10,067,596      € 635,977      € 9,431,619      -€ 2,640,853
        € 10,067,596      € 553,300      € 9,514,296      -€ 2,664,003
                          £56,297,148                   Net Cash Flow =
                                                                  NPV =
                                                                  IRR =




       With Benefits




enue
                       CHP Capital      Net Taxable
            Total                                           Tax
                        Allowance         Income
                       € 24,000,000                                €0
                  €0   € 36,000,000     -€ 36,000,000    € 10,080,000
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836             €0      € 12,743,836    -€ 3,568,274
        € 12,743,836               €0      € 12,743,836     -€ 3,568,274
        € 12,743,836               €0      € 12,743,836     -€ 3,568,274
        € 12,743,836               €0      € 12,743,836     -€ 3,568,274
        € 12,743,836               €0      € 12,743,836     -€ 3,568,274
        € 12,743,836               €0      € 12,743,836     -€ 3,568,274
                             £60,000,000                  Net Cash Flow =
                                                                    NPV =
                                                                    IRR =




       No Benefits




enue
                                           Net Taxable
            Total      Capital Allowance                      Tax
                                             Income

                  €0                                 €0               €0
           € 113,797          € 81,900         € 31,897         -€ 8,931
           € 113,797          € 71,253         € 42,544        -€ 11,912
           € 113,797          € 61,990         € 51,807        -€ 14,506
           € 113,797          € 53,931         € 59,866        -€ 16,762
           € 113,797          € 46,920         € 66,877        -€ 18,725
           € 113,797          € 40,821         € 72,976        -€ 20,433
           € 113,797          € 35,514         € 78,283        -€ 21,919
           € 113,797          € 30,897         € 82,900        -€ 23,212
           € 113,797          € 26,881         € 86,917        -€ 24,337
           € 113,797          € 23,386         € 90,411        -€ 25,315
           € 113,797          € 20,346         € 93,451        -€ 26,166
           € 113,797          € 17,701         € 96,096        -€ 26,907
           € 113,797          € 15,400         € 98,397        -€ 27,551
           € 113,797          € 13,398        € 100,399        -€ 28,112
           € 113,797          € 11,656        € 102,141        -€ 28,599
           € 113,797          € 10,141        € 103,656        -€ 29,024
           € 113,797           € 8,823        € 104,975        -€ 29,393
           € 113,797           € 7,676        € 106,121        -€ 29,714
           € 113,797           € 6,678        € 107,119        -€ 29,993
           € 113,797           € 5,810        € 107,987        -€ 30,236
                                £591,120                  Net Cash Flow =
                                                                    NPV =
                                                                    IRR =



       With Benefits
                                                     0.5
enue
                         CHP Capital       Net Taxable     Allowance Carry
           Total                                                                 Tax
                          Allowance          Income            Forward
                             € 126,000                                                   €0
                  €0         € 504,000       -€ 504,000                           € 141,120
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
           € 181,804                €0        € 181,804                           -€ 50,905
                                                                             Net Cash Flow =
                                                                                       NPV =
                                                                                       IRR =




       No Benefits




enue
                                           Net Taxable
           Total       Capital Allowance                                         Tax
                                             Income
                  €0                              €0                €0
         € 4,009,681    € 3,900,000        € 109,681         -€ 30,711
         € 4,009,681    € 3,393,000        € 616,681        -€ 172,671
         € 4,009,681    € 2,951,910      € 1,057,771        -€ 296,176
         € 4,009,681    € 2,568,162      € 1,441,520        -€ 403,626
         € 4,009,681    € 2,234,301      € 1,775,381        -€ 497,107
         € 4,009,681    € 1,943,842      € 2,065,840        -€ 578,435
         € 4,009,681    € 1,691,142      € 2,318,539        -€ 649,191
         € 4,009,681    € 1,471,294      € 2,538,388        -€ 710,749
         € 4,009,681    € 1,280,026      € 2,729,656        -€ 764,304
         € 4,009,681    € 1,113,622      € 2,896,059        -€ 810,897
         € 4,009,681      € 968,851      € 3,040,830        -€ 851,432
         € 4,009,681      € 842,901      € 3,166,781        -€ 886,699
         € 4,009,681      € 733,324      € 3,276,358        -€ 917,380
         € 4,009,681      € 637,991      € 3,371,690        -€ 944,073
         € 4,009,681      € 555,053      € 3,454,629        -€ 967,296
         € 4,009,681      € 482,896      € 3,526,786        -€ 987,500
         € 4,009,681      € 420,119      € 3,589,562      -€ 1,005,077
         € 4,009,681      € 365,504      € 3,644,178      -€ 1,020,370
         € 4,009,681      € 317,988      € 3,691,693      -€ 1,033,674
         € 4,009,681      € 276,650      € 3,733,032      -€ 1,045,249
                          £28,148,574                   Net Cash Flow =
                                                                  NPV =
                                                                  IRR =




       With Benefits




enue
                       CHP Capital       Net Taxable
            Total                                           Tax
                        Allowance          Income
                       € 12,000,000     -€ 12,000,000      € 3,360,000
                  €0   € 18,000,000     -€ 18,000,000      € 5,040,000
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
         € 4,309,033             €0       € 4,309,033     -€ 1,206,529
€ 4,309,033         €0      € 4,309,033     -€ 1,206,529
€ 4,309,033         €0      € 4,309,033     -€ 1,206,529
€ 4,309,033         €0      € 4,309,033     -€ 1,206,529
€ 4,309,033         €0      € 4,309,033     -€ 1,206,529
€ 4,309,033         €0      € 4,309,033     -€ 1,206,529
€ 4,309,033         €0      € 4,309,033     -€ 1,206,529
€ 4,309,033         €0      € 4,309,033     -€ 1,206,529
€ 4,309,033         €0      € 4,309,033     -€ 1,206,529
              £30,000,000                 Net Cash Flow =
                                                    NPV =
                                                    IRR =
Post-tax Cash
                  Depreciation       EBIT
    flows
             €0
      -€ 42,000
        € 2,349       -€ 2,100         -€ 961
        € 2,150       -€ 2,100         -€ 961
        € 1,978       -€ 2,100         -€ 961
        € 1,827       -€ 2,100         -€ 961
        € 1,696       -€ 2,100         -€ 961
        € 1,582       -€ 2,100         -€ 961
        € 1,483       -€ 2,100         -€ 961
        € 1,397       -€ 2,100         -€ 961
        € 1,322       -€ 2,100         -€ 961
        € 1,257       -€ 2,100         -€ 961
        € 1,200       -€ 2,100         -€ 961
        € 1,151       -€ 2,100         -€ 961
        € 1,108       -€ 2,100         -€ 961
        € 1,071       -€ 2,100         -€ 961
        € 1,038       -€ 2,100         -€ 961
        € 1,010       -€ 2,100         -€ 961
          € 985       -€ 2,100         -€ 961
          € 964       -€ 2,100         -€ 961
          € 945       -€ 2,100         -€ 961
          € 929       -€ 2,100         -€ 961
     -€ 14,557                   EBIT % Capex
      € 13,571                       -2.29%
   -4.34%
Post-tax Cash
                  Depreciation        EBIT
    flows
             €0
      -€ 30,240
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 1,717       -€ 2,100           € 285
        € 4,105                  EBIT % Capex
      -€ 14,200                      0.68%
   1.24%




Post-tax Cash
                  Depreciation        EBIT
    flows
 -€ 24,000,000
 -€ 36,000,000
   € 9,432,669    -€ 3,000,000     € 7,067,596
   € 9,148,749    -€ 3,000,000     € 7,067,596
   € 8,901,738   -€ 3,000,000     € 7,067,596
   € 8,686,839   -€ 3,000,000     € 7,067,596
   € 8,499,877   -€ 3,000,000     € 7,067,596
   € 8,337,220   -€ 3,000,000     € 7,067,596
   € 8,195,709   -€ 3,000,000     € 7,067,596
   € 8,072,593   -€ 3,000,000     € 7,067,596
   € 7,965,483   -€ 3,000,000     € 7,067,596
   € 7,872,297   -€ 3,000,000     € 7,067,596
   € 7,791,226   -€ 3,000,000     € 7,067,596
   € 7,720,693   -€ 3,000,000     € 7,067,596
   € 7,659,330   -€ 3,000,000     € 7,067,596
   € 7,605,944   -€ 3,000,000     € 7,067,596
   € 7,559,498   -€ 3,000,000     € 7,067,596
   € 7,519,091   -€ 3,000,000     € 7,067,596
   € 7,483,936   -€ 3,000,000     € 7,067,596
   € 7,453,351   -€ 3,000,000     € 7,067,596
   € 7,426,742   -€ 3,000,000     € 7,067,596
   € 7,403,593   -€ 3,000,000     € 7,067,596
€ 100,736,579                   EBIT % Capex
   € 7,927,772                      11.78%
   11.99%




Post-tax Cash
                 Depreciation        EBIT
    flows
 -€ 24,000,000
 -€ 25,920,000
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
   € 9,175,562   -€ 3,000,000     € 9,743,836
€ 133,591,234                   EBIT % Capex
 € 23,451,572                       16.24%
   16.21%




Post-tax Cash
                 Depreciation        EBIT
    flows
    -€ 126,000
    -€ 504,000
     € 104,866      -€ 31,500        € 82,297
     € 101,885      -€ 31,500        € 82,297
      € 99,291      -€ 31,500        € 82,297
      € 97,035      -€ 31,500        € 82,297
      € 95,072      -€ 31,500        € 82,297
      € 93,364      -€ 31,500        € 82,297
      € 91,878      -€ 31,500        € 82,297
      € 90,585      -€ 31,500        € 82,297
      € 89,460      -€ 31,500        € 82,297
      € 88,482      -€ 31,500        € 82,297
      € 87,631      -€ 31,500        € 82,297
      € 86,890      -€ 31,500        € 82,297
      € 86,246      -€ 31,500        € 82,297
      € 85,685      -€ 31,500        € 82,297
      € 85,198      -€ 31,500        € 82,297
      € 84,773      -€ 31,500        € 82,297
      € 84,404      -€ 31,500        € 82,297
      € 84,083      -€ 31,500        € 82,297
      € 83,804      -€ 31,500        € 82,297
      € 83,561      -€ 31,500        € 82,297
   € 1,174,192                  EBIT % Capex
     € 670,339                      13.06%
   13.44%
Post-tax Cash
                 Depreciation        EBIT
    flows
    -€ 126,000
    -€ 362,880
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
     € 130,899      -€ 31,500       € 150,304
   € 2,129,104                  EBIT % Capex
     € 557,217                      23.86%
   24.87%




Post-tax Cash
                 Depreciation        EBIT
    flows
 -€ 12,000,000
 -€ 18,000,000
   € 3,978,971   -€ 1,500,000     € 2,509,681
   € 3,837,011   -€ 1,500,000     € 2,509,681
   € 3,713,505   -€ 1,500,000     € 2,509,681
   € 3,606,056   -€ 1,500,000     € 2,509,681
   € 3,512,575   -€ 1,500,000     € 2,509,681
   € 3,431,246   -€ 1,500,000     € 2,509,681
   € 3,360,490   -€ 1,500,000     € 2,509,681
   € 3,298,933   -€ 1,500,000     € 2,509,681
   € 3,245,378   -€ 1,500,000     € 2,509,681
   € 3,198,785   -€ 1,500,000     € 2,509,681
   € 3,158,249   -€ 1,500,000     € 2,509,681
   € 3,122,983   -€ 1,500,000     € 2,509,681
   € 3,092,301   -€ 1,500,000     € 2,509,681
   € 3,065,608   -€ 1,500,000     € 2,509,681
   € 3,042,385   -€ 1,500,000     € 2,509,681
   € 3,022,181   -€ 1,500,000     € 2,509,681
   € 3,004,604   -€ 1,500,000     € 2,509,681
   € 2,989,312   -€ 1,500,000     € 2,509,681
   € 2,976,007   -€ 1,500,000     € 2,509,681
   € 2,964,433   -€ 1,500,000     € 2,509,681
  € 35,621,014                  EBIT % Capex
  -€ 1,743,017                      8.37%
    9.08%




Post-tax Cash
                 Depreciation        EBIT
    flows
  -€ 8,640,000
 -€ 12,960,000
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
   € 3,102,504   -€ 1,500,000     € 2,809,033
 € 3,102,504   -€ 1,500,000     € 2,809,033
 € 3,102,504   -€ 1,500,000     € 2,809,033
 € 3,102,504   -€ 1,500,000     € 2,809,033
 € 3,102,504   -€ 1,500,000     € 2,809,033
 € 3,102,504   -€ 1,500,000     € 2,809,033
 € 3,102,504   -€ 1,500,000     € 2,809,033
 € 3,102,504   -€ 1,500,000     € 2,809,033
 € 3,102,504   -€ 1,500,000     € 2,809,033
€ 40,450,079                  EBIT % Capex
 € 3,590,332                      9.36%
  12.36%
              Do not use for commercial purposes. Do not use for
                 project design or analysis. No guarantees or
                  warrantees given or implied for use of this
                                 spreadsheet
Real Energy Prices3: 2000-2022
          Updated May 2009
2008 prices
PRICES CENTRAL                                                                                                                                                                                                                                PRICES     CENTRAL
POLICY CENTRAL                                                                                                                                                                                                                                POLICY     CENTRAL
GROWTH CENTRAL                                                                                                                                                                                                                                GROWTH     CENTRAL
                                                                                                                                                                                                                                                Diff to
                                                2000      2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022                                                             Ave 12-22  Wholesale
WHOLESALE PRICES
         Gas price (p/therm)                     19.3     22.9 20.7 21.7 23.1 30.0 45.2 30.6 58.1 52.5                      58.3    60.4    61.1    61.9    62.6    63.3    64.1    64.8    65.6    66.3    67.0    67.8    68.5      64.8               Gas price (p/therm)
         Oil price ($/bbl)                       35.7     29.9 29.4 32.6 42.3 59.5 69.7 74.3 101.7 70.0                     70.0    71.0    72.0    73.0    74.0    75.0    76.0    77.0    78.0    79.0    80.0    81.0    82.0      77.0               Oil price ($/bbl)
         Coal price (£/tonne)                    28.9     32.7 24.3 30.0 43.2 36.3 36.6 45.2 79.5 80.3                      68.7    65.0    61.2    57.5    53.8    50.0    50.0    50.0    50.0    50.0    50.0    50.0    50.0      52.0               Coal price (£/tonne)
         Electricity price1 (p/kWh)               2.9      2.2  1.8 2.1 2.4 4.0 4.1 2.9       8.1   7.1                      7.2     7.5     6.9     7.0     7.3     7.3     7.4     7.5     7.6     7.7     7.7     7.9     8.2       7.5               Electricity price1 (p/kWh)
          Carbon Prices B - Traded                                                                                                                                                                                                                        Carbon Prices B - Traded
             Sector - EUA Prices -                                                                           20      21      21      21      22      22      22      23      23      23      24      29      24      29      33       24.9                   Sector - EUA Prices -
              CENTRAL (£/teCO2)                                                                                                                                                                                                                               CENTRAL (£/teCO2)
 29.3071 Gas Price (p/kWh)                       0.66     0.78 0.70 0.74 0.79 1.02 1.54 1.05                1.98    1.79    1.99    2.06    2.09    2.11    2.14    2.16    2.19    2.21    2.24    2.26    2.29    2.31    2.34      2.21               Gas Price (p/kWh)
RETAIL PRICES2

Electricity                                                                                                                                                                                                                                                                           5.00%   10.00%   15.00%      23.00%
              Industrial (p/kWh)                 4.3       3.8    3.5    3.3    3.5    4.6     5.8 5.6       8.5     8.5     8.8     9.2     9.2     9.4     9.9    10.2    10.5    10.9    11.2    11.6    12.0    12.2    12.6      10.9        3.4                                                           in 2020
              Residential (p/kWh)                9.6       9.1    8.8    8.6    8.6    9.4    10.8 11.9     13.7    13.3    11.2    11.9    11.9    12.2    12.8    13.2    13.6    14.4    14.8    15.1    15.5    14.8    15.2      14.0        6.5                                   0.7      1.4      2.1          3.2
              Services (p/kWh)                   5.0       4.4    4.1    3.7    4.0    5.1     6.5 6.7      10.0     9.9    10.2    10.5    10.4    10.5    10.8    10.9    11.0    11.1    11.2    11.3    11.4    11.6    11.8      11.1        3.6

Gas
              Industrial (p/kWh)                 0.7       1.0    0.9    0.9    1.1    1.5    1.9    1.5     2.5     2.3     2.5     2.6     2.7     2.7     2.8     2.9     3.0     3.1     3.3     3.5     3.7     3.7     3.8      3.2         1.0
              Residential (p/kWh)                2.1       2.1    2.1    2.1    2.2    2.5    3.2    3.3     3.8     3.4     3.7     3.8     3.9     4.0     4.2     4.3     4.4     4.7     4.8     5.1     5.3     5.1     5.2      4.6         2.4                                   0.2      0.5      0.7         1.2
              Services (p/kWh)                   0.9       1.2    1.2    1.2    1.3    1.7    2.2    2.1     3.2     3.0     3.2     3.2     3.3     3.3     3.3     3.3     3.4     3.4     3.4     3.4     3.5     3.5     3.5      3.4         1.2

Petroleum
              Premium unleaded (p/litre)         93.0      92.8   81.9   85.2   84.4   85.5   93.7   88.9   107.1   103.0   108.0   110.5   112.9   114.9   115.6   116.0   116.5   116.9   117.3   117.7   118.2   118.6   119.0    116.7
              Super unleaded (p/litre)          103.8     102.7   91.9   91.4   90.2   94.7   99.9   96.9   113.5   112.3   116.7   119.1   121.1   121.9   122.3   122.7   123.2   123.6   124.0   124.5   124.9   125.3   125.8    123.6
              DERV (p/litre)                     95.9      98.6   87.4   86.8   86.3   91.1   98.2   93.5   117.5   107.3   112.4   114.9   117.4   119.4   120.2   120.7   121.2   121.7   122.2   122.7   123.2   123.7   124.2    121.5
              Weighted average (p/litre)         94.3      95.2   84.4   85.8   85.1   87.5   95.2   90.6   112.6   105.5   110.5   113.0   115.4   117.4   118.2   118.6   119.1   119.5   120.0   120.5   120.9   121.4   121.9    119.3


1 Electricity prices based on Summer Strategy policy measures and central growth projection. Carbon price assumed to be €xx/tonne of CO2 (2020)
2 Retail price assumptions are estimated using DECC's retail prices model and are dependent on policies assumed
3 Historical data are deflated using the GDP series (YBGB)




Real Energy Prices3: 2000-2022
2008 prices
PRICES LOW                                                                                                                                                                                                                                   PRICES     LOW
POLICY CENTRAL                                                                                                                                                                                                                               POLICY     CENTRAL
GROWTH CENTRAL                                                                                                                                                                                                                               GROWTH     CENTRAL
                                                                                                                                                                                                                                               Diff to
                                                  2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022                                                                Ave 12-22 Wholesale
WHOLESALE PRICES
         Gas price (p/therm)                      19.3    22.9 20.7 21.7 23.1 30.0 45.2 30.6 58.1                    45.4    32.8    32.9    32.9    33.0    33.1    33.2    33.3    33.4    33.5    33.6    33.7    33.8    33.9       33.4             Gas price (p/therm)
         Oil price ($/bbl)                        35.7    29.9 29.4 32.6 42.3 59.5 69.7 74.3 101.7                   50.0    50.0    50.0    52.0    54.0    56.0    58.0    60.0    60.0    60.0    60.0    60.0    60.0    60.0       58.2             Oil price ($/bbl)
         Coal price (£/tonne)                     28.9    32.7 24.3 30.0 43.2 36.3 36.6 45.2 79.5                    70.9    50.0    46.3    42.5    38.8    35.0    31.2    31.2    31.2    31.2    31.2    31.2    31.2    31.2       33.3             Coal price (£/tonne)
         Electricity price1 (p/kWh)                2.9     2.2 1.8 2.1 2.4 4.0 4.1 2.9         8.1                    6.9     5.6     4.9     4.2     4.0     4.0     4.0     4.0     4.0     4.0     4.1     4.1     4.2     4.3        4.1             Electricity price1 (p/kWh)
          Carbon Prices B - Traded                                                                                                                                                                                                                        Carbon Prices B - Traded
          Sector - EUA Prices - LOW                                                                          12      12      12      12      12      13      13      13      13      13      13      14      14      16      18       13.8                Sector - EUA Prices - LOW
                    (£/teCO2)                                                                                                                                                                                                                                       (£/teCO2)
 29.3071 Gas Price (p/kWh)                       0.66     0.78 0.70 0.74 0.79 1.02 1.54 1.05                1.98    1.55    1.12    1.12    1.12    1.13    1.13    1.13    1.14    1.14    1.14    1.15    1.15    1.15    1.16      1.14               Gas Price (p/kWh)
RETAIL PRICES2

Electricity
              Industrial (p/kWh)                    4.3     3.8    3.5    3.3    3.5    4.6 5.8 5.6           8.5     8.4     7.1     6.7     6.6     6.7     6.9     7.1     7.4     7.7     8.0     8.3     8.6     8.8     9.1        7.7      0.2
              Residential (p/kWh)                   9.6     9.1    8.8    8.6    8.6    9.4 10.8 11.9        13.7    13.2     9.4     9.3     9.1     9.3     9.7    10.0    10.3    11.0    11.3    11.6    12.0    11.2    11.5       10.7      3.2
              Services (p/kWh)                      5.0     4.4    4.1    3.7    4.0    5.1 6.5 6.7          10.0     9.8     8.4     8.0     7.8     7.7     7.8     7.8     7.9     7.9     8.0     8.0     8.1     8.2     8.3        7.9      0.5

Gas
              Industrial (p/kWh)                    0.7     1.0    0.9    0.9    1.1    1.5    1.9    1.5     2.5     2.1     1.6     1.6     1.7     1.7     1.8     1.8     1.9     2.0     2.1     2.3     2.5     2.6     2.6           2.1   -0.1
              Residential (p/kWh)                   2.1     2.1    2.1    2.1    2.2    2.5    3.2    3.3     3.8     3.1     2.8     2.9     2.9     3.0     3.1     3.2     3.3     3.5     3.7     3.9     4.1     3.9     4.0           3.5    1.3
              Services (p/kWh)                      0.9     1.2    1.2    1.2    1.3    1.7    2.2    2.1     3.2     2.7     2.3     2.3     2.3     2.3     2.3     2.3     2.3     2.3     2.3     2.3     2.3     2.3     2.3           2.3    0.1

Petroleum
              Premium unleaded (p/litre)          93.0 92.8 81.9 85.2           84.4   85.5   93.7   88.9   107.1 93.9 98.7 100.7           103.6   106.0   107.2   108.1   109.0   109.0   108.9   108.9   108.9   108.8   108.8      107.9
              Super unleaded (p/litre)           103.8 102.7 91.9 91.4          90.2   94.7   99.9   96.9   113.5 103.1 107.4 109.3         111.8   113.0   113.9   114.8   115.7   115.6   115.6   115.6   115.5   115.5   115.5      114.8
              DERV (p/litre)                      95.9 98.6 87.4 86.8           86.3   91.1   98.2   93.5   117.5 97.0 101.8 103.9          106.8   109.4   110.7   111.8   112.8   112.7   112.7   112.7   112.6   112.6   112.6      111.6
              Weighted average (p/litre)          94.3 95.2 84.4 85.8           85.1   87.5   95.2   90.6   112.6 95.7 100.5 102.5          105.4   107.9   109.2   110.2   111.1   111.1   111.0   111.0   111.0   110.9   110.9      110.0


1 Electricity prices based on Summer Strategy policy measures and central growth projection. Carbon price assumed to be €xx/tonne of CO2 (2020)
2 Retail price assumptions are estimated using DECC's retail prices model and are dependent on policies assumed
3 Historical data are deflated using the GDP series (YBGB)




Real Energy Prices3: 2000-2022
2008 prices
PRICES HIGH                                                                                                                                                                                                                                  PRICES     HIGH
POLICY CENTRAL                                                                                                                                                                                                                               POLICY     CENTRAL
GROWTH CENTRAL                                                                                                                                                                                                                               GROWTH     CENTRAL
                                                                                                                                                                                                                                               Diff to
                                                  2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022                                                                Ave 12-22 Wholesale
WHOLESALE PRICES
         Gas price (p/therm)                      19.3    22.9 20.7 21.7 23.1 30.0 45.2 30.6 58.1                    67.0    69.7    72.4    75.1    77.8    80.4 83.1 85.8 88.5 91.2 93.9 96.5 96.5 96.5                               87.8             Gas price (p/therm)
         Oil price ($/bbl)                        35.7    29.9 29.4 32.6 42.3 59.5 69.7 74.3 101.7                   80.0    83.6    87.3    90.9    94.5    98.2 101.8 105.5 109.1 112.7 116.4 120.0 120.0 120.0                      108.1             Oil price ($/bbl)
         Coal price (£/tonne)                     28.9    32.7 24.3 30.0 43.2 36.3 36.6 45.2 79.5                    83.4    75.0    72.5    70.0    67.5    65.0 62.5 62.5 62.5 62.5 62.5 62.5 62.5 62.5                               63.9             Coal price (£/tonne)
         Electricity price1 (p/kWh)                2.9     2.2 1.8 2.1 2.4 4.0 4.1 2.9         8.1                    7.3     8.0     8.3     8.4     8.6     8.9   9.1   9.4   9.7   9.9 10.1 10.3 10.8 11.2                            9.7             Electricity price1 (p/kWh)
           Carbon Prices B - Traded                                                                                                                                                                                                                       Carbon Prices B - Traded
          Sector - EUA Prices - HIGH                                                                         26      26      26      27      27      28      28      28      29      29      30      30      31      38      45       31.2               Sector - EUA Prices - HIGH
                    (£/teCO2)                                                                                                                                                                                                                                       (£/teCO2)
 29.3071 Gas Price (p/kWh)                       0.66     0.78 0.70 0.74 0.79 1.02 1.54 1.05                1.98    2.29    2.38    2.47    2.56    2.65    2.74    2.84    2.93    3.02    3.11    3.20    3.29    3.29    3.29      2.99               Gas Price (p/kWh)
RETAIL PRICES2

Electricity
              Industrial (p/kWh)                    4.3     3.8    3.5    3.3    3.5    4.6 5.8 5.6           8.5     8.6     9.9    10.3    10.6    11.0    11.4    11.8    12.3    12.8    13.3    13.8    14.4    14.9    15.4       12.9      5.4
              Residential (p/kWh)                   9.6     9.1    8.8    8.6    8.6    9.4 10.8 11.9        13.7    13.4    12.3    13.1    13.3    13.8    14.4    15.0    15.5    16.4    17.0    17.4    18.0    17.6    18.1       16.1      8.6
              Services (p/kWh)                      5.0     4.4    4.1    3.7    4.0    5.1 6.5 6.7          10.0    10.0    11.2    11.6    11.8    12.0    12.3    12.5    12.8    13.1    13.3    13.6    13.8    14.2    14.6       13.1      5.6

Gas
              Industrial (p/kWh)                    0.7     1.0    0.9    0.9    1.1    1.5    1.9    1.5     2.5     2.8     2.9     3.0     3.2     3.3     3.4     3.6     3.7     3.9     4.2     4.4     4.8     4.8     4.8           4.0   1.8
              Residential (p/kWh)                   2.1     2.1    2.1    2.1    2.2    2.5    3.2    3.3     3.8     3.9     4.1     4.3     4.4     4.6     4.8     5.0     5.2     5.5     5.8     6.0     6.4     6.2     6.2           5.5   3.2
              Services (p/kWh)                      0.9     1.2    1.2    1.2    1.3    1.7    2.2    2.1     3.2     3.5     3.6     3.6     3.7     3.8     3.9     4.0     4.1     4.2     4.3     4.4     4.5     4.5     4.5           4.2   2.0

Petroleum
              Premium unleaded (p/litre)          93.0 92.8 81.9 85.2           84.4   85.5   93.7   88.9   107.1   107.6   114.4   118.1   121.7   124.9   126.8   128.5   130.2   131.8   133.5   135.1   136.8   136.8   136.7      131.2
              Super unleaded (p/litre)           103.8 102.7 91.9 91.4          90.2   94.7   99.9   96.9   113.5   116.9   123.1   126.8   130.0   132.0   133.6   135.3   137.0   138.6   140.3   142.0   143.7   143.6   143.6      138.2
              DERV (p/litre)                      95.9 98.6 87.4 86.8           86.3   91.1   98.2   93.5   117.5   112.5   119.6   123.5   127.4   130.8   133.0   134.9   136.8   138.7   140.6   142.4   144.3   144.3   144.3      137.9
              Weighted average (p/litre)          94.3 95.2 84.4 85.8           85.1   87.5   95.2   90.6   112.6   110.3   117.3   121.1   124.8   128.1   130.2   132.0   133.7   135.5   137.3   139.1   140.8   140.8   140.8      134.8


1 Electricity prices based on Summer Strategy policy measures and central growth projection. Carbon price assumed to be €xx/tonne of CO2 (2020)
2 Retail price assumptions are estimated using DECC's retail prices model and are dependent on policies assumed
3 Historical data are deflated using the GDP series (YBGB)

								
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